Cato (NYSE:CATO) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Cato Corporation (The) (NYSE:CATO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.13 and traded as high as $3.33. Cato shares last traded at $3.2320, with a volume of 40,881 shares traded.

Cato Price Performance

The stock has a market cap of $63.96 million, a PE ratio of -323.68 and a beta of 0.55. The firm’s 50 day moving average price is $2.95 and its two-hundred day moving average price is $3.13.

Cato (NYSE:CATO) last posted its earnings results on Tuesday, May 26th. The specialty retailer reported $0.47 earnings per share for the quarter. Cato had a net margin of 0.01% and a return on equity of 0.05%. The firm had revenue of $171.10 million during the quarter.

Hedge Funds Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. increased its position in Cato Corporation (The) (NYSE:CATO) by 76.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,437 shares of the specialty retailer’s stock after acquiring an additional 20,521 shares during the quarter. Goldman Sachs Group Inc. owned about 0.24% of Cato worth $158,000 at the end of the most recent quarter. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

About Cato

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.